IoT-Based Technology for Stolen Vehicle Recovery

Car theft remains a huge problem for auto dealerships across the United States. In 2020, 873,080 vehicle thefts were reported to authorities, an almost 10 percent increase from the year before. Thieves regularly exploit vulnerabilities in keyless entry systems using sophisticated technology and can drive automobiles away in a matter of minutes. However, the emergence of the Internet of Things (IoT) technology for stolen vehicle recovery has made recovering these vehicles much simpler for dealers and insurance companies. 

What is Stolen Vehicle Recovery?

As technology advances, so do the ways in which thieves are stealing vehicles. Several solutions have been introduced to keep dealer assets safe from criminals. As such, the Stolen Vehicle Recovery (SVR) market will grow by over 5 percent by 2023. SVR tools utilize a sensor with location-based services hidden within the vehicle. When stolen, the device is tracked using GPS frequencies and is leveraged by local law enforcement to accurately track its location.

2 Key Advantages to Utilizing IoT-Based Tracking Devices

There are a multitude of advantages to using SVR tools that harness IoT-based technology. This next generation of SVR devices makes recovering stolen vehicles simpler and more convenient for all parties involved.

Nationwide Coverage and Immediate Alerts

IoT devices offer a wide range of coverage. Stolen vehicle recovery systems, such as Elo GPS, use active GPS software that provides real-time location tracking and offers instant communication between the vehicle and the dealership. Using geofencing technology, or virtual perimeters, dealers can be notified via email or text when a vehicle exits a designated lot perimeter. This immediate notification, in conjunction with law enforcement, enables the inventory recovery effort as soon as it goes missing.

Usable by Law Enforcement

When a vehicle is taken from your lot, it is always best advised to not follow the vehicle yourself to ensure your safety. Contacting local law enforcement is your best first step towards recovering the vehicle. Elo GPS’ Stolen Vehicle Recovery Hotline is available 24/7 and the team will work with local law enforcement to recover the vehicle once a police report has been filed. 

Are Next-Gen Tracking Systems Right for Your Dealership?

IoT solutions have proven to be a massively disruptive technology in the Stolen Vehicle Recovery industry. With car theft rising annually at an alarming pace, the demand for reliable and easy-to-use SVR tools is sure to increase over time. Whether you’re looking to manage one vehicle or 100 vehicles, IoT-based trackers are undoubtedly the best option for car owners and dealers looking to protect their assets. To learn more about Elo GPS and how it can be best leveraged for stolen vehicle recovery at your dealership, contact our team to schedule a demo